Robert Brelsford
Downstream Technology Editor
Husky Energy Inc., Calgary, has completed its acquisition of Calumet Specialty Products Partners LP subsidiary Calumet Superior LLC's 47,500-b/cd refinery in Superior, Wis., and other regional downstream assets (OGJ Online, Aug. 14, 2017).
As part of the transaction, which the parties finalized on Nov. 8, Husky paid a total consideration of $492 million, including the original sale price of $435 million as well as an additional $57 million for net working capital, inventories, and reimbursement of certain capital spending, according to separate releases from Calumet and Husky.
The refinery processes a mix of light and heavy crudes delivered to the plant via the Enbridge pipeline system from North Dakota's Bakken shale formation and western Canada.
Husky's purchase also includes: a combined 3.6 million bbl of crude-product storage; the proprietary pipeline connecting the refinery to the Magellan pipeline system; the on-site Superior product terminal and truck-rail racks; the offsite Duluth product terminal and truck rack in Proctor, Minn.; the offsite Crookston and Rhinelander, Wis., asphalt terminals and truck racks; the leased Duluth marine terminal; certain gathering assets and line space in North Dakota, including lease-automatic custody transfer stations at Stanley, Beaver Lodge Station, and Alexander; certain rail logistics assets; and a wholesale fuels business that fuels to Calumet-branded gas stations throughout Minnesota, Wisconsin, and Michigan.
